HeadwaterCompany strategiesBuild yours

lululemon

Three-pillar action plan, From 2025

To elevate human potential by helping people feel their best
lululemon’s purpose

An action plan for the Americas

In 2022 lululemon set out Power of Three ×2, around product innovation, guest experience, and market expansion. By 2025 revenue was falling in North America while it rose quickly abroad, so the company set out an action plan for the Americas on three pillars, and kept investing in its international markets.

Power of Three ×2, 2022Product innovationGuest experienceMarket expansionThe action plan

Product creation

  1. 1More new stylesBring out new styles more often and more widely, and revive key franchises such as Scuba, Dance Studio, and ABC.
  2. 2Faster to marketShorten product development, and restock strong styles faster.

New styles in 2025 included Daydrift, Be Calm, Big Cozy, and Mile Maker.

In 2025, women’s revenue grew 5%, men’s 4%, and accessories and other 8%.

Revenue fell in the Americas and grew abroad

Most of lululemon’s revenue comes from the Americas, where it fell in 2025. China Mainland and the rest of the world grew by double digits.,

71%
16%
13%

  • Americas

    $7.8bn

    Net revenue in fiscal 2025

    Fiscal 2025
    −1%
    Q2 2026
    −8%
    Stores
    476

  • China Mainland

    $1.8bn

    Net revenue in fiscal 2025

    Fiscal 2025
    +29%
    Q2 2026
    +4%
    Stores
    172

  • Rest of World

    $1.5bn

    Net revenue in fiscal 2025

    Fiscal 2025
    +16%
    Q2 2026
    +5%
    Stores
    163

Growth in net revenue on the year before. Stores are company-operated, at the end of fiscal 2025.

lululemon has stores in 30 countries

lululemon runs most of its stores itself, and enters some markets through licensed partners who run lululemon stores there.

811company-operated stores

Americas

  • United States379
  • Canada71
  • Mexico26

China Mainland

  • China Mainland172

Asia Pacific

  • Australia34
  • South Korea22
  • Hong Kong SAR11
  • Japan10
  • Singapore9
  • New Zealand8
  • Taiwan7
  • Malaysia5
  • Thailand5
  • Macau SAR3

Europe

  • United Kingdom20
  • Germany9
  • France6
  • Ireland4
  • Spain3
  • Netherlands2
  • Sweden2
  • Italyfirst in 20251
  • Norway1
  • Switzerland1

Women’s is the core of lululemon’s business

Men’s is a key part of its growth plans, and online and store sales are about the same size.

By category

  • Women’s63%
  • Men’s24%
  • Accessories and other13%

Share of fiscal 2025 net revenue.

By channel

  • Company-operated stores46%
  • E-commerce44%
  • Other channels10%

Share of fiscal 2025 net revenue.

  1. Name the problem the plan is for.

    lululemon’s annual report says plainly that revenue was falling in North America, and that its action plan is built to fix that while the international business keeps growing. We recommend stating the problem a plan solves, so everyone can tell whether it is working.

  2. Start with the product.

    The first pillar is product creation: more new styles, sooner. Marketing and stores come second, to bring that product to life. We recommend fixing what you sell before spending more on selling it.

  3. Enter new markets with partners.

    In 2025 lululemon opened in Turkey, Belgium, and Denmark through licensed partners, beside its own first store in Italy. We recommend matching the way you enter a market to how well you know it.

Sources

  1. 1. lululemon athletica inc. (2026). Annual Report on Form 10-K for the fiscal year ended February 1, 2026. SEC filing, 17 March 2026. sec.gov
  2. 2. lululemon athletica inc. (2022). lululemon Reveals Power of Three ×2 Five-Year Growth Strategy. lululemon, 20 April 2022. corporate.lululemon.com
  3. 3. lululemon athletica inc. (2026). lululemon athletica inc. Announces Fourth Quarter and Full Year Fiscal 2025 Results. Press release, 17 March 2026. corporate.lululemon.com
  4. 4. lululemon athletica inc. (2026). lululemon athletica inc. Announces Second Quarter Fiscal 2026 Results. Press release, 3 September 2026. corporate.lululemon.com
  5. 5. lululemon athletica inc. (2026). Q2 Fiscal 2026 Earnings Commentary. Results, 3 September 2026. corporate.lululemon.com

Headwater is not connected with lululemon athletica inc. lululemon, Scuba, Dance Studio, ABC, Daydrift, Be Calm, Big Cozy, Mile Maker, and Like New are trade marks of their owners. Updated 28 September 2026.

All company strategies